A troubling tendency among investors in Shiba Inu (SHIB) has been highlighted by data from famous crypto analytics site IntoTheBlock in a shocking discovery. The startling 74% of SHIB holder addresses that are mired in a sea of losses are a reflection of the turbulent path taken by the digital token.
The seriousness of the problem cannot be understated with an outstanding total of 951,320 addresses solidly in the red. 859.44 trillion Shiba Inu tokens have accumulated in these unproductive addresses due to the SHIB token’s continuing decline in value.
The depressing numbers also show that most of the impacted, or about 268,720 addresses, entered SHIB at costs ranging from $0.000009 to $0.000014. This shows the degree of the financial setback in striking contrast to the token’s current market value of $0.0000083.
Only 15.83% of SHIB investors are profitable, while a another 9.83% are perilously hovering at the break-even threshold. The Shiba Inu coin enters the top 10 list of least profitable digital assets thanks to this ratio.
Shibarium slip
The eagerly anticipated Shibarium Layer 2 protocol launch unexpectedly tanked, adding to the commotion. The grandiose project was unexpectedly put on hold for repairs soon after it made its premiere, throwing a shadow on what was meant to be a watershed event in Shiba Inu’s history.
By assuring users that Shibarium is operating in secret mode and is about to reopen, influential members of the SHIB community have tried to defuse the issue. Despite their best efforts, the protocol’s website is still unavailable and clearly marked with the phrase “INTAKES ARE CLOSED.”
